There are many investment advisory firms that manage investment assets prudently, that say they do formal financial planning, and that follow a strict fiduciary standard to put your interests first. So what makes for a truly high-quality financial planning and investment advisory firm?
SERVICE, SERVICE, SERVICE—then MORE SERVICE.
A successful client-advisor relationship begins with the preparation of a formal, comprehensive financial plan that addresses goal, retirement, estate, tax and protection planning, some aspects of which can be incredibly complex requiring deep expertise on the part of the advisor and their firm. But as astute and technically capable as they might be, it is just as important that your advisor is skilled at explaining your plan to you in a manner that gives you confidence to the point that you want to work with the advisor and their team for the long term.
Ask yourself these questions:
- Are you confident you and your advisor can develop and monitor an appropriate risk-weighted investment portfolio that will help you achieve your goals?
- Do you meet with your advisor as often as you believe you should to stay on track, monitor and update your plan?
- Does your advisor have a vision of success for you? Can they easily communicate that vision to you even when the subject is highly complicated?
- Does your advisor take your calls and make you feel that your questions are important? If your advisor is not immediately available, do they call you back before the day is over, even if it is to reschedule a time to talk with you?
- Are your review meetings well planned with plenty of time to focus on what is important to you? Does your advisor schedule enough time, so you never feel rushed?
- Is your advisor proactive as opposed to reactive? Does your advisor work well with your tax planning CPA and volunteer to attend an estate planning meeting with your attorney to make the process less confusing and more time efficient?
- Does your advisor pay attention to detail and communicate with you in a professional yet friendly manner? Do they explain complex subjects in a manner that makes you comfortable? Do they make you feel important?
The advisor you want to work with will have a long-term view of what financial success means to you. It’s a service continuum that you sometimes might not notice. They’ll make it look easy, even when it’s not, and seamless.
A speaker from a globally recognized company told his audience of advisors, ”You need to do things that absolutely delight your client.” That does not always translate as technical expertise. It could be a simple “thank you” that gives you the feeling your advisor appreciates having you as a client. It will materialize as being able to work together, resolve simple as well as complex problems, plan and act diligently—and all the while, enjoy the experience.
There is so much more to high quality service than technical expertise. Often, it is the simple things in any professional relationship that go a long way on the satisfaction scale. At HBKS Wealth Advisors, every advisor and service team strives to deliver superior service every day. We know that you, the client, are the reason for our success.
IMPORTANT DISCLOSURES
The information included in this document is for general, informational purposes only. It does not contain any investment advice and does not address any individual facts and circumstances. As such, it cannot be relied on as providing any investment advice. If you would like investment advice regarding your specific facts and circumstances, please contact a qualified financial advisor.
Any investment involves some degree of risk, and different types of investments involve varying degrees of risk, including loss of principal.
It should not be assumed that future performance of any specific investment, strategy or allocation (including those recommended by HBKS® Wealth Advisors) will be profitable or equal the corresponding indicated or intended results or performance level(s).
Past performance of any security, indices, strategy or allocation may not be indicative of future results.
The historical and current information as to rules, laws, guidelines or benefits contained in this document is a summary of information obtained from or prepared by other sources. It has not been independently verified, but was obtained from sources believed to be reliable. HBKS® Wealth Advisors does not guarantee the accuracy of
this information and does not assume liability for any errors in information obtained from or prepared by these other sources.
HBKS® Wealth Advisors is not a legal or accounting firm, and does not render legal, accounting or tax advice. You should contact an attorney or CPA if you wish to receive legal, accounting or tax advice.
